Fed signals bond-buying taper coming 'soon'

While no decisions have been made on the exact pace and timing of how the central bank will reduce its asset purchases, Federal Reserve Chair Jerome Powell said it seems "appropriate" that the taper could begin "soon" and be completed by the middle of 2022.

"Participants generally view that as long as the recovery remains on track, a gradual tapering process that concludes around the middle of next year is likely to be appropriate," Powell said in a news conference after the end of the Fed's latest two-day policy meeting.